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16 May 2007

How up? - EURGBP

How up? - EURGBP


On the 4 hour chart we see Bullish Divergent Bar followed by a nice rally. Up move has offered few more entry points where aggressive traders could add to the position. EURGBP toke the distance of +65 points on one breath. Signals are coming one ofter another under a strong Momentum and Acceleration.

At the moment there are two open long positions and another two pending if market moves up.

On Daily chart though we have two Bearish DBars that show us possible end of the trend. The angle is acute and even if the up move keeps going up the lack of Momentum and Acceleration will end the trend if no other circumstances appear. So the Stop Loss is tighten and armed with patience we'll wait to see what the market will decide

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